Albemarle (NYSE:ALB) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Monday, The Fly reports.
Several other equities analysts have also commented on ALB. Loop Capital began coverage on Albemarle in a research report on Thursday, September 28th. They set a “buy” rating and a $150.00 price objective for the company. UBS Group raised their price objective on Albemarle from $123.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. Royal Bank of Canada reissued a “buy” rating and set a $149.00 price objective on shares of Albemarle in a research report on Wednesday, October 18th. KeyCorp raised their price objective on Albemarle from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, Jefferies Group raised their price objective on Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $128.45.
Albemarle (ALB) opened at $131.72 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $14,554.48, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.69. Albemarle has a 52-week low of $89.09 and a 52-week high of $144.99.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its holdings in Albemarle by 100.8% in the 2nd quarter. Baillie Gifford & Co. now owns 184,555 shares of the specialty chemicals company’s stock worth $19,478,000 after buying an additional 92,650 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Albemarle in the 2nd quarter worth about $11,681,000. Sumitomo Life Insurance Co. bought a new stake in Albemarle in the 3rd quarter worth about $1,703,000. Vanguard Group Inc. increased its holdings in Albemarle by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after buying an additional 213,530 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC increased its holdings in Albemarle by 1.9% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 285,837 shares of the specialty chemicals company’s stock worth $38,962,000 after buying an additional 5,430 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.
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About Albemarle
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
